China Securities Regulatory Commission Issues Regulatory Warning to China Leading Investment Bank China International Capital Corp CICC Irregularities in Business Operations, Hiring Non-Qualified Individuals for Securities Business, Employees Conducting Trading of Stocks & Lending Their Personal Securities Accounts
28th April 2024 | Hong Kong
China Securities Regulatory Commission (CSRC) has issued a regulatory warning to China leading investment bank China International Capital Corp (CICC) for irregularities in business operations, hiring non-qualified individuals for securities business, employees conducting trading of stocks & lending their personal securities accounts. CSRC (26/4/24, Google Translate): “To China International Capital Corporation – After investigation, your company’s compliance management has the following problems: First, it employs people who have not obtained professional qualifications to carry out relevant securities business; second, many employees have engaged in the behavior of buying and selling stocks and lending personal securities accounts, and the company does not monitor the behavior of employees. in place. Violated the provisions of Article 3 and Article 6, Item 4 of the “Compliance Management Measures for Securities Companies and Securities Investment Fund Management Companies (Revised in 2020)”. According to the provisions of paragraph 1 of Article 32 of the “Compliance Management Measures for Securities Companies and Securities Investment Fund Management Companies (2020 Revision)”, our bureau has decided to take administrative supervision measures by issuing a warning letter to your company. Your company should take this as a warning, carefully search for and rectify problems, strengthen the behavior management of employees, effectively improve the level of compliance management, and prevent such problems from happening again. If you are dissatisfied with this supervisory and administrative measure, you may apply for administrative review to the China Securities Regulatory Commission within 60 days from the date of receipt of this decision, or you may apply to the people with jurisdiction within 6 months from the date of receipt of this decision. A lawsuit was filed in court. During the period of reconsideration and litigation, the above supervision and management measures will not stop execution.”
“ China Securities Regulatory Commission Issues Regulatory Warning to China Leading Investment Bank China International Capital Corp CICC Irregularities in Business Operations, Hiring Non-Qualified Individuals for Securities Business, Employees Conducting Trading of Stocks & Lending Their Personal Securities Accounts “
China Securities Regulatory Commission Issues Regulatory Warning to China Leading Investment Bank China International Capital Corp CICC Irregularities in Business Operations, Hiring Non-Qualified Individuals for Securities Business, Employees Conducting Trading of Stocks & Lending Their Personal Securities Accounts
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